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Monetizing the Business Model

Monetizing the Business Model. MBA LITE February 17, 2014. Dan Quigg Bio. 25 Years Technology Executive Founder & CEO, Public Insight Corporation President & CEO, RIS Logic acquired by Merge Healthcare Founder & CEO, OmniVista acquired by Best Software

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Monetizing the Business Model

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  1. Monetizing the Business Model MBA LITE February 17, 2014

  2. Dan Quigg Bio • 25 Years Technology Executive • Founder & CEO, Public Insight Corporation • President & CEO, RIS Logic acquired by Merge Healthcare • Founder & CEO, OmniVista acquired by Best Software • General Manager, Best Analytics (acquired by Sage) • KPMG Small Systems Co-Founder • CEO - Public Insight Corporation • Developers of 360-Public • Goal of transforming public data into insight • Kent State University Adjunct Professor of Entrepreneurship • Awards and Groups • Ernst & Young Entrepreneur of the Year Finalist • Smart Magazine “Rising Star” • Case Western Reserve Inaugural Leadership Award • Leadership Cleveland Class of 2013 • Follower of Jesus Christ

  3. My Favorite Reads

  4. Business Model Framework Our Focus Source: Business Model Institute

  5. Goal: Build Enterprise Value • Value of an Organization • Exit Value Functions: • Growth Rate • Recur Revenue • Scalability • Margins • Risk • Mkt Potential • Entrepreneur Decisions: • Capital vs. Bootstrapping • Acceptable Cash “Burn” • Founder Salaries

  6. Beachhead Market Entry • “Paying” Customers • Not “Fun With Spreadsheets” • Innovative – Not “Me Too” • Primary, then Secondary • Go For the Beachhead!

  7. The Core Adjacency Adjacency Core Adjacency Adjacency Adjacency Adjacency Zook – Profit from the Core

  8. What is a Core? The Core is something that allows you to deliver the benefits your customers value with much greater effectiveness than any other competitor.* • What it is Not? • IP • First mover advantage • Locking up suppliers • Pivoting: • Typically a change in core • Average successful pivots 1.8 • Not a change in primary market * Disciplined Entrepreneurship

  9. Sources of differentiation Must have at least three Zook – Repeatabillity

  10. Avoid These Terms

  11. Minimum Viable Business Product (MVBP) • Customer Gets Value • Customer Pays for Value • Product is Sufficient to Start the Feedback Loop • Iterate Towards a Better Product

  12. Economic Ecosystem Source: Wide Lens

  13. Example Free 1 2

  14. Pricing Framework • Goal of Lifetime Value • Costs are Irrelevant • Understand Value • Pay Attention to Decision Process • Understand Price Alternatives • Different Types Will Pay Different Prices • Be Flexible for Early Adopters and “Lighthouse Customers” • It is Always Easier to Drop the Price Than Raise it

  15. Understand Costs of Customer Acquisition Source: Disciplined Entrepreneur

  16. Pipeline Conversion

  17. Scenario Planning

  18. Metric Driven Revenue Forecasting

  19. Cash Flow Planning

  20. Questions Contact Information: Dan Quigg, CEO Dan.Quigg@publicinsightcorp.com Cell: 440-317-0117 561 Boston Mills Rd., Suite 500 Hudson, OH 44236 www.publicinsightcorp.com

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